MCQs For NCERT Class 11 Business Studies Chapter 11 International Business

MCQs Class 11

Please refer to the MCQ Questions for Class 11 Business Studies Chapter 11 International Business with Answers. The following International Business Class 11 Business Studies MCQ Questions have been designed based on the latest syllabus and examination pattern for Class 11. Our experts have designed MCQ Questions for Class 11 Business Studies with Answers for all chapters in your NCERT Class 11 Business Studies book.

International Business Class 11 MCQ Questions with Answers

See below International Business Class 11 Business Studies MCQ Questions, solve the questions and compare your answers with the solutions provided below.

Question. ……………… is the payment method most often used in International Trade which offers the exporter best assurance of being paid for the products sold internationally.
(a) Bill of Lading
(b) Letter of Credit
(c) Open Account
(d) Drafts

Answer

B

Question. The —————- company produces, markets, invests and operates across the world
(a) Global
(b) International
(c) Transnational
(d) Multinational

Answer

C

Question. Which one of the following is not a document related to fulfilling the customs formalities
(a) Letter of insurance
(b) Shipping bill
(c) Export license
(d) Proforma invoice

Answer

D

Question. Which one of the following modes of entry requires higher level of risks?
(a) Licensing
(b) Contract manufacturing
(c) Franchising
(d) Joint venture

Answer

D

Question. The first phase of globalization started around 1870 and ended with _______.
(a) World War I
(b) World War II
(c) The Establishment of GATT
(d) In 1913 when GDP was high

Answer

A

Question. Which one of the following modes of entry permits greater degree of control over overseas operations?
(a) Licensing/franchising
(b) Wholly owned subsidiary
(c) Contract manufacturing
(d) Joint venture

Answer

B

Question. Which one of the following is not amongst India’s major import items?
(a) Ayurvedic medicines
(b) Oil and petroleum products
(c) Pearls and precious stones
(d) Machinery

Answer

B

Question. ______ is the application of knowledge which redefines the boundaries of global business.
(a) Cultural Values
(b) Society
(c) Technology
(d) Economy

Answer

C

Question. ………………… is the application of knowledge which redefines the boundaries of global business
(a) Cultural Values
(b) Society
(c) Technology
(d) Economy

Answer

C

Question. Which option is not a business activity?
(a) Production of goods
(b) Transportation
(c) Exchange of goods
(d) Work in a factory for wages

Answer

D

Question. W.T.O is the only organization dealing with the:
(a) Home trade rules
(b) Entrepot trade rules
(c) Global trade rules
(d) None of the above

Answer

C

Question. In which business, the support service activities are categorized?
(a) Commercial industries
(b) Primary industries
(c) Secondary industries
(d) Tertiary industries

Answer

D

Question. Which of the following does not belong to the World Bank group?
(a) IBRD
(b) IDA
(c) MIGA
(d) IMF

Answer

D

Question. Which one of the following is not amongst India’s major trading partners?
(a) USA
(b) UK
(c) Germany
(d) New Zealand

Answer

D

Question. Globalization refers to ______.
(a) Lower incomes worldwide
(b) Less foreign trade and investment
(c) Global warming and their effects
(d) A more integrated and interdependent world

Answer

D

Question. The headquarters of the World Trade Organization is located at
(a) United States
(b) United Kingdom
(c) Geneva, Switzerland
(d) India

Answer

C

Question. Performa Invoice is issued by the-
(a) Shipping company of importer
(b) Exporter to importer
(c) Importer to exporter
(d) Exporter to the shipping company

Answer

B

Question. Labour productivity and production cost differ among nations due to ——— —
(a) Geographical reason
(b) Agricultural reason
(c) Personal reason
(d) Government policies

Answer

A

Question. In which state export processing zone are not set up?
(a) Kerla
(b) Gujarat
(c) West Bengal
(d) Rajasthan

Answer

D

Question. Which of the following document is required in connection with an import transaction?
(a) Certificate of origin.
(b) Shipping Bill
(c) Letter of credit.
(d) Mate’s receipt.

Answer

C

Question. Identify the alternative which is not the objective of World Trade Organization.
(a) To ensure reduction of tariffs and other trade barriers imposed by different countries.
(b) To facilitate the optimal use of the world’s resources for sustainable development.
(c) To promote an integrated and more viable and durable trading system.
(d) To promote an orderly international monetary system

Answer

D

Question. Name of the document that contain detail as to the quality, grade, design, size etc.
(a) Proforma invoice
(b) Purchase invoice
(c) Sale invoice
(d) Voucher

Answer

A

Fill in the blanks:

Question. Those document sent by the exporter to the importer for informing about shipment of goods is known as ___________.

Answer

Shipment advice

Question. The fundamental reason behind International business is that the countries cannot produce ___________ or ___________ all that they need.

Answer

equally well and cheaply

Question. A proforma invoice is a document that contains details as to the ___________ and ___________ of the export product. 

Answer

quality , design and price

Question. In ___________ business both buyers and sellers are from the same country.

Answer

domestic

Question. Major documents needed in connection with export trade are documents related to Goods, Shipment and _________.

Answer

Payment

Question. The body which governs trade not only in goods, services and intellectual property rights between different countries ___________.

Answer

World trade organization

Question. In ___________ business buyers and sellers can be from different countries.

Answer

Internal trade

True / False:

Question.To facilitate the maximum use of the world’s resources for sustainable development is the major objective of World Trade Organization.

Answer

False

Question. General Agreement on Tariffs and Trade is a successor to World Trade organization. 

Answer

False

Question. A large number of domestic firms in India found it very difficult to compete in the world market.

Answer

True

Question. World Trade Organization was set up on 1st January 1995 replacing the General Agreement on Tariffs and Trade. 

Answer

True

Question. The Registration cum membership certificate is a document certifying that the exporter is a member of the export promotion council.

Answer

True

Question. Domestic markets are heterogeneous in nature.

Answer

False

Question. The basic objective of World Trade Organization and General Agreement on Tariffs and Trade are opposite to each other

Answer

False

Match the following:

Question. Match the following documents with the suitable category-

AB
1. Export Invoice(a) Document related to payment
2. Marine Insurance Policy(b) Document related to goods
3. Bank Certificate of Payment(c) Import Document
4. Dock Challan(d) Document related to shipment
Answer

1-b, 2-d, 3-a, 4-c

Question. With the organization with its objective

AB
1. World Trade Organization(a) to provide orderly international monetary system
2. General Agreement on Tariffs and Trade(b) to provide finance to the private sector
3. World Bank(c) facilitates international business and trade
4. International Monetary Fund(d) to liberalize the world from high customs tariffs
Answer

1-d, 2-b, 3-a, 4-c

Question. Match the establishment dates with the Organization

AB
1. 1st Jan 1948 (a) World Trade Organization
2. 1944(b) International Monetary Fund
3. 11th Dec. 2005(c) General Agreement on Tariffs and Trade
4. International Monetary Fund(d) World Bank
Answer

1-c, 2-d, 3-a, 4-b

Question. Match the problems/objectives with its organisation:

AB
1. To solve problems between two countries and providing for multilateral trade negotiations(a) inception of the World Trade Org.
2. Helps fostering growth of developing countries by providing
them with special and preferential treatment in trade related items
(b) Objectives World Trade Org.
3. Formed at the Bretton Woods Conference(c) works on similar objectives
4. General Agreement on Tariffs and Trade And World Trade Org(d) Benefits of World Trade Org
Answer

1-b, 2-d, 3-a, 4-c

Question. Match the objectives with its organisation

AB
1. Has a global status similar to that of International Monetary Fund and World Bank(a) Is the successor of General Agreement on Tariffs and Trade
2. The objectives of General Agreement on Tariffs and Trade and World Trade Organization(b) world Trade Organization
(c) international monetary fund
(d) international monetary fund
Answer

1-b, 2-c

Question. Match the objectives with its organisation-

AB
1. To ensure reduction of tariff and other barriers imposed by different countries(a) objectives of world Trade Organization
2. To engage in such activities which improve the standard
of living, create employment,increase income and effective
demand and facilitate higher production and trade
(b) objectives of General Agreement on Tariffs and Trade.
(c) Benefits of world Trade organisation
(d) international monetary fund
Answer

1-c, 2-b

Pictorial Questions:

Question. Identify Internatioanal bank which is responsible for Reconstruction and Development.

MCQs For NCERT Class 11 Business Studies Chapter 11 International Business
Answer

World Bank

Question. Identify country where the headquarters of WTO is situated.

MCQs For NCERT Class 11 Business Studies Chapter 11 International Business
Answer

SWITZERLAND

Question.  List the next 2 steps involved after the one mentioned below of one of the type of trade.
Trade Enquiry ⇒ Procurement of import license ⇒  (1)________ ⇒  (2)________ 

Answer

(1) Obtaining foreign exchange, (2) Placing order or indent

Question. Identify the logo-,

MCQs For NCERT Class 11 Business Studies Chapter 11 International Business
Answer

WTO

Question. How is GATT associated with WTO

MCQs For NCERT Class 11 Business Studies Chapter 11 International Business
Answer

WTO originates from GATT

Question. Select the correct number of member countries registered with the World Trade Organisation.

MCQs For NCERT Class 11 Business Studies Chapter 11 International Business
Answer

149 members

Question. Identify the type of trade depicted I n the picture-

MCQs For NCERT Class 11 Business Studies Chapter 11 International Business
Answer

International trade

MCQs For NCERT Class 11 Business Studies Chapter 11 International Business